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HB20-1174

Sales Tax Statute Modifications To Address Defect

Concerning modifications to the sales tax statutes in order to address certain defects and anachronisms.
Session:
2020 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

The act:

  • Makes corrections to the penalty for a taxpayer's failure to pay the correct amount of sales taxes due or for a taxpayer's failure to account for sales taxes correctly so that the statute reads the way the department of revenue applies the law;
  • Changes the penalty section for use tax collections so that it is the same as for sales tax collections; legislative history makes clear that the legislature has intended these sections to be the same, but over the years bills revising these sections did not successfully align the 2 sections; and
  • Repeals a temporary partial sales tax rate reduction for a new or used commercial truck, truck tractor, tractor, semitrailer, or vehicle used in combination therewith that has a gross vehicle weight rating in excess of 26,000 pounds. While the rate reduction could still be used, it is preempted by a full rate reduction for low-emitting vehicles in another statutory section. Any vehicle that could qualify for the temporary partial rate reduction in a TABOR refund year already qualifies for the full exemption from sales or use tax under the other section, so the partial rate reduction is not used.
    (Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    04/01/2020 Signed Act PDF
    03/17/2020 Final Act PDF
    03/10/2020 Rerevised PDF
    03/09/2020 Revised PDF
    02/21/2020 Reengrossed PDF
    02/20/2020 Engrossed PDF
    01/28/2020 Introduced PDF

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. H. McKean, Rep. D. Valdez
Sen. J. Tate

Sponsor

Rep. J. Arndt
Sen. D. Moreno, Sen. R. Zenzinger

Co-sponsor

Rep. B. Buentello, Rep. M. Gray

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